An analysis of the economic consequences of ASRB 1012 foreign currency accounting

Yee, Benita. (1990). An analysis of the economic consequences of ASRB 1012 foreign currency accounting Honours Thesis, School of Business, The University of Queensland.

       
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Author Yee, Benita.
Thesis Title An analysis of the economic consequences of ASRB 1012 foreign currency accounting
School, Centre or Institute School of Business
Institution The University of Queensland
Publication date 1990
Thesis type Honours Thesis
Total pages 120
Language eng
Subjects 14 Economics
Formatted abstract This study investigates the economic consequences, if any, of Approved Accounting standard ASRB 1012 "Foreign Currency Translation" on firms in the Australian mining industry. The hypotheses predict that firms decreased their reliance upon long-term foreign debt, increased their relative levels of long-term domestic debt and increased their financing from share capital and/or reserves. Tests are conducted across the mining industry, between the deferral and the immediate recognition firms and within the deferral firms.

The results suggest that there are economic consequences associated with the introduction of ASRB 1012. Firms decreased their proportionate levels of long-term foreign debt and increased their share capital and/or reserves over the test period. However, firms did not increase their domestic long-term debt.' This suggests that increasing domestic debt is costly for firms even though it is a less risky alternative to foreign debt in terms of exposure to exchange rate fluctuations.


 
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